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Stock Market & Financial Investment News

News Breaks
April 11, 2014
07:29 EDTSYMC, PANW, CHKP, JNPR, FTNTNetwork security Q1 survey shows 'respectable' demand, says Jefferies
Jefferies said its Q1 network security survey indicates "respectable" demand trends but with signs of seasonality. The firm sees the potential for modest revenue upside in Q1, but feels it will be on a more selective company to company basis relative to Q4. Jefferies states Palo Alto (PANW) continues to see the largest share gains while the survey data on Fortinet (FTNT) showed a "notable downtick" in expected growth.
News For PANW;FTNT;CHKP;SYMC;JNPR From The Last 14 Days
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February 26, 2015
14:39 EDTPANWPalo Alto volatility and share price increases into Q2 and outlook
Palo Alto March weekly call option implied volatility is at 63, April is at 42, June is at 38; compared to its 26-week average of 43 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on March 2.
09:04 EDTJNPRJuniper, Canonical form partnership for OpenStack-based cloud solutions
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07:48 EDTPANWPalo Alto price target raised to $150 from $130 at Oppenheimer
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February 24, 2015
16:20 EDTJNPRVMware appoints Bask Iyer as Chief Information Officer
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15:46 EDTJNPRJuniper CIO leaving company for same role at VMware, Business Insider says
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15:28 EDTJNPRJuniper to hold an analyst and investor update
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10:28 EDTFTNT, CHKP, PANWAnalyst sees 'massive' IT security upgrade cycle still in early innings
A number of trends are spurring businesses and the government to spend aggressively on cyber security offerings, benefiting companies in the IT security sector, wrote research firm FBR Capital in a note to investors today. In conjunction, the firm raised its price target on a number of stocks in the sector. WHAT'S NEW: After conducting checks, FBR Capital analyst Daniel Ives believes that spending on advanced cyber security products has increased this quarter. The ongoing series of well-publicized cyber attacks on large companies is causing businesses to become more concerned about protecting themselves from this threat, according to Ive, who believes that advanced IT security products have "massive," once in a multi-decade growth potential. Data points indicate that enterprises are looking to buy more advanced firewall/cloud security solutions, while the sizes of purchases by customers in the space have increased. Meanwhile, given the high priority that the Obama administration has placed on cyber security, the federal government's spending on IT security is likely to rise in the coming quarters and years, Ives wrote. Forecasting a 20% increase in overall cyber security spending this year, the analyst believes that the following companies should benefit disproportionately from the positive trends, since they have "the right products at the right time:" Palo Alto (PANW), FireEye (FEYE), Proofpoint (PFPT), Check Point (CHKP), and Fortinet (FTNT). The analyst raised his price target on Fortinet to $39 from $36, on Palo Alto to $160 from $121, on Proofpoint to $67 from $60, and on Check Point to $93 from $85. He kept Outperform ratings on all the stocks named. WHAT'S NOTABLE: In its own note to investors, RBC Capital said it expects Palo Alto to report stronger than expected Q2 results, driven by "impressive" revenue and margin improvements. The firm raised its price target on the shares to $150 from $145 and kept an Outperform rating on the stock. PRICE ACTION:In early trading, Palo Alto added 0.2% to $138.41, FireEye advanced 1.2% to $43.87, Proofpoint lost slipped fractionally to $56.55, Check Point rose 0.5% at $82.77, and Fortinet gained 1.3% to $33.76.
09:16 EDTFTNTFortinet price target raised to $43 from $37 at BofA/Merrill
BofA/Merrill recommends focusing on Fortinet given 2015 revenue growth acceleration and margin improvement. The firm said Fortinet trades significantly below the peer group but is exhibiting accelerating billings and revenue growth and strong demand for new products. The firm reiterates its Buy rating and raised its price target to $43 and views downside as limited.
09:02 EDTJNPRJuniper adds 2 directors to board, announces agreement with Elliott
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08:32 EDTCHKP, PANW, FTNTFBR checks show strong cybersecurity deal momentum
FBR Capital raised its price targets in the next-generation cybersecurity space after its channel checks showed strong deal momentum so far in the March quarter. The firm believes the "massive upgrade cycle" for next-generation cybersecurity remains in the early days. It raised its price target for Fortinet (FTNT) to $39 from $36, for Palo Alto (PANW) to $160 from $121, for FireEye (FEYE) to $53 from $45, for Proofpoint (PFPT) to $67 from $60 and for Check Point (CHKP) to $93 from $85.
07:41 EDTPANWPalo Alto volatility elevated into Q2 and outlook
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07:18 EDTPANWPalo Alto results likely to beat expectations, says RBC Capital
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07:14 EDTJNPRCantor to hold a conference
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05:27 EDTCHKPCheck Point and Adallom announce partnership for SaaS document protection
Adallom and Check Point announced a new partnership aimed to protect business documents stored in SaaS environments. The migration of enterprise data to cloud applications coupled with the massive surge in mobile device usage may challenge IT and security teams. As a result, sensitive corporate documents may be shared with anyone with a single link, or downloaded to unmanaged devices; and users with access to sensitive documents may still have access to them after they depart the company.
February 23, 2015
10:15 EDTFTNT, CHKP, SYMC, PANWCyberArk sinks after JPMorgan analyst cuts rating to sell
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08:27 EDTPANWPalo Alto price target raised to $150 from $130 at Pacific Crest
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05:54 EDTSYMCSymantec management to meet with JMP Securities
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05:52 EDTPANWCyberArk downgraded to Underweight from Neutral at JPMorgan
JPMorgan downgraded Cyberark Software (CYBR) to Underweight, its sell-equivalent, saying "a lot needs to go right" to justify the current valuation. JPMorgan keeps a $42 price target for the stock, well below Friday's closing price of $70.35. It points out that CyberArk's valuation is in-line with Palo Alto Networks (PANW), despite the latter company's total addressable market being roughly five times larger in its estimation. Cyberark is an Israel-based security company offering protections against cyber attacks.
February 19, 2015
08:34 EDTSYMCIntralinks expands Enterprise Fabric partner ecosystem
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February 18, 2015
08:32 EDTCHKPCheck Point acquires Hyperwise, terms not disclosed
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